Alleged cryptocurrency platform swqt-usex.com appears to be engaged in fraud

A Washington man invested more than $630,000 from his retirement account on a cryptocurrency platform called swqt-usex.com. When he tried to withdraw funds from the platform, he was informed that he needed to pay a withdrawal fee, a wallet activation fee, and a validation fee. After paying these fees, the platform informed him that he was blacklisted and needed to pay an additional fee to get on the “whitelist.” So far, the man has only been able to recover approximately $130,000 of his original investment. The platform swqt-usex.com purports to be affiliated with Swissquote Bank, but it has no connection with this financial institution.

How to Report

If you believe you are a victim of this alleged cryptocurrency scam:

• Report to FBI
• If you are outside Washington State: contact your local Securities Regulator
• If you are a Washington State resident: Submit a Complaint for statistical purposes. 

Other Resources

• Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers
• Investment Fraud
• What You Can Do to Avoid Investment Fraud | Investor.gov